While Fed chair Jerome Powell indicated that stubbornly high inflation would see a long-expected U.S. rate cut pushed back, he refused to entertain talk that...
- U.S. stock index futures advanced on Thursday, a day after the Federal Reserve left interest rates unchanged and allayed fears around potential rate hikes , with focus moving to a spate of earnings updates through the day.
"The Fed's official statement did acknowledge a 'lack of further progress' in inflation reduction in recent months," Preston Caldwell, chief U.S. economist at Morningstar, said."But Powell expressed the strong belief that current monetary policy is sufficiently restrictive to return inflation to the Fed's 2% target eventually ... therefore it's unlikely the next policy move will be a hike.
At 05:43 a.m. ET, Dow E-minis were up 131 points, or 0.34%, S&P 500 E-minis were up 29.25 points, or 0.58%, and Nasdaq 100 E-minis were up 141.75 points, or 0.81%.
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